Wall Street analysts forecast that Apache Co. (NYSE:APA) will post $1.65 billion in sales for the current quarter, according to Zacks. Six analysts have provided estimates for Apache’s earnings, with the lowest sales estimate coming in at $1.56 billion and the highest estimate coming in at $1.74 billion. Apache reported sales of $1.88 billion in the same quarter last year, which would suggest a negative year over year growth rate of 12.2%. The business is expected to report its next earnings report after the market closes on Wednesday, May 2nd.
According to Zacks, analysts expect that Apache will report full-year sales of $6.83 billion for the current financial year, with estimates ranging from $6.54 billion to $7.16 billion. For the next financial year, analysts expect that the business will post sales of $6.96 billion per share, with estimates ranging from $6.61 billion to $7.55 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Apache.
Apache (NYSE:APA) last released its quarterly earnings results on Thursday, February 22nd. The energy company reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.12. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.54 billion. Apache had a net margin of 20.32% and a return on equity of 1.11%. During the same quarter last year, the business earned ($0.06) earnings per share.
Several research firms recently commented on APA. Stifel Nicolaus set a $41.00 price target on shares of Apache and gave the company a “hold” rating in a research report on Tuesday, January 30th. ValuEngine lowered shares of Apache from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Royal Bank of Canada restated a “hold” rating and set a $45.00 price target on shares of Apache in a research report on Monday, March 5th. UBS began coverage on shares of Apache in a research report on Wednesday, March 7th. They set a “sell” rating and a $34.00 price target on the stock. Finally, Credit Suisse Group restated a “neutral” rating and set a $39.00 price target (down previously from $43.00) on shares of Apache in a research report on Friday, February 23rd. Ten analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $41.27.
APA stock traded down $0.33 during midday trading on Tuesday, hitting $41.45. 5,190,851 shares of the stock traded hands, compared to its average volume of 5,071,040. The firm has a market cap of $15,811.02, a PE ratio of 172.71, a P/E/G ratio of 4.02 and a beta of 1.10. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.31 and a current ratio of 1.45. Apache has a 1-year low of $33.60 and a 1-year high of $52.67.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 22nd. Shareholders of record on Monday, April 23rd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.41%. The ex-dividend date is Friday, April 20th. Apache’s payout ratio is 416.67%.
In related news, Director John E. Lowe acquired 2,500 shares of the firm’s stock in a transaction on Friday, March 2nd. The shares were acquired at an average cost of $33.80 per share, with a total value of $84,500.00. Following the completion of the acquisition, the director now directly owns 17,500 shares in the company, valued at approximately $591,500. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.59% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Apache by 6.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 26,020 shares of the energy company’s stock worth $1,099,000 after buying an additional 1,594 shares in the last quarter. Colonial Trust Advisors lifted its stake in shares of Apache by 19.4% in the fourth quarter. Colonial Trust Advisors now owns 23,918 shares of the energy company’s stock worth $1,010,000 after buying an additional 3,891 shares in the last quarter. Xact Kapitalforvaltning AB lifted its stake in shares of Apache by 11.5% in the fourth quarter. Xact Kapitalforvaltning AB now owns 36,148 shares of the energy company’s stock worth $1,526,000 after buying an additional 3,741 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Apache by 2.2% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 211,822 shares of the energy company’s stock worth $8,943,000 after buying an additional 4,498 shares in the last quarter. Finally, Pin Oak Investment Advisors Inc. purchased a new position in shares of Apache in the fourth quarter worth about $1,422,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.
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Apache Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids (NGLs). The company has operations in onshore assets located Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.
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